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A Great Solution Does Not Have To Be Complicated As published on Medium, Sep 14 · 2 min read I always remind my colleagues and the startup founders and entrepreneurs I mentor and coach: Don’t complicate things, keep it and make it simple. Sadly as technology evolved complexity has crept into every corner of our lives. In fact the theme that technologists and innovators use is “Technology makes it better and simpler”. Well that is not the case. Simplicity and […]

Taxes and the Gig Economy For new entrepreneurs, paying the IRS can be tricky Employees of on-demand ride services like Uber and Lyft are subject to regular income tax. So you’ve joined the gig, or sharing, economy, making money by renting out bedrooms, giving strangers a ride in your car or taking some task that another person doesn’t want to do. Congratulations! You’ll likely owe income taxes on your earnings — even from part-time gigs. And unlike working for an […]

Are You Self-Employed? Know What Taxes You Must Pay Report all income, pay required taxes to maximize Social Security benefits If you are a contracted worker or otherwise self-employed and don’t report all of your income and pay quarterly estimated taxes and self-employment tax, you may get a lower Social Security retirement benefit when the time comes to collect. “Benefits are based on your lifetime earnings, so they could be a lot less, or none,” says the Social Security Administration […]

10 Legal Issues for Independent Workers to Consider Tax and legal matters pose certain questions for small-business owners and contractors You need to know that working solo comes with a fair amount of tax and legal ramifications, from business licenses and liability insurance to client contracts and expense tracking. If you have no proficient advisors to help you with this journey “The learning curve can been steep,” says many entrepreneurs. If you, too, find yourself working as an independent professional after a […]

And you think you were “open minded”? Chances are, you’re not as open-minded as you think according to David Epstein who is the author of “Range: Why Generalists Triumph in a Specialized World,”. (By the way, a great book to read, not that I am an open minded adaptive generalist.) From his article: “Science curiosity” is different from “science knowledge”. (How true!) Science-curious people always chose to look at new evidence, whether it aligned with their beliefs or […]

Big Brother is Live and Well in Chicago! The Cubs’ hometown is also America’s most digitally surveilled city thanks to Operation Virtual Shield, which has access to more than 32,000 networked cameras. The system tracks your face and many other things such as vehicle license plates… The city of brotherly love and sanctuary for many has actually the biggest Big Brother foot print in the country! Food for thought about privacy and liberty: 32K Surveillance Cameras […]

And now for an August wrap up: MURPHY’S OTHER 15 LAWS 1. Light travels faster than sound. This is why some people appear bright until you hear them speak 2. A fine is a tax for doing wrong. A tax is a fine for doing well 3. He, who laughs last, thinks slowest 4. A day without sunshine is like, well, night 5. Change is inevitable, except from a vending machine 6. Those who live by the sword get shot […]

Sometimes startups can con people and investors with some foo-foo dust. This mystical dust when properly sprinkled and applied over vague things (ideas and promises of a lot of cash) makes it happen magically. For the ones who don’t know what foo-foo dust is: Foo foo dust is a reference to a (non-existent) power or mysterious mystical ingredient or hidden effort that creates desirable results. Results achieved, as if by magic, perhaps by slight-of-hand. (Urban Dictionary and others) […]

Why networking events are a waste of time: The most basic problem with networking events is that they are mixing bowls for professionals who are all there for different reasons and purposes. Everyone there is focused on his or her own personal agenda. And all agendas are different, whether it’s signing a new client, creating awareness for their startup or service company, or connecting with someone in the hopes of developing a mutually beneficial business relationship. Everyone […]